Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If you make a * creditable acquisition of second-hand goods and the supply of the goods to you was not a * taxable supply:
(a) subsection 29-10(3) applies to the acquisition as if references to a * tax invoice were references to a record you prepared that complies with this section; and
(b) subsection 29-20(3) applies to an adjustment event relating to the acquisition as if references to an * adjustment note were references to a record you prepared that complies with this section.
(2) To comply with this section, the record must:
(a) set out the name and address of the entity that supplied the goods to you; and
(b) describe the goods (including their quantity); and
(c) set out the date of, and the * consideration for, the acquisition.
(2A) Subsection 29-10(3) does not apply to a * creditable acquisition of * second-hand goods if:
(a) the supply to which the acquisition relates is not a * taxable supply; and
(b) the amount that would have been the * value of the supply (if it had been a * taxable supply) does not exceed $50, or such higher amount as the regulations made for the purposes of subsection 29-80(1) specify.
(2B) Subsection 29-20(3) does not apply to a * decreasing adjustment relating to a * creditable acquisition of * second-hand goods if:
(a) the supply to which the acquisition relates is not a * taxable supply; and
(b) the amount of the adjustment does not exceed $50, or such higher amount as the regulations made for the purposes of subsection 29-80(2) specify.
(3) This section has effect despite section 29-10 (which is about attributing the input tax credits for creditable acquisitions) and section 29-20 (which is about attributing decreasing adjustments).